The IRS announced yesterday, in IR 2017-210 (the "Advisory"), that state property taxes must be "assessed" in 2017 in order for such taxes to be prepaid in calendar year 2017 and therefore deductible in 2017.

Yesterday afternoon, the House of Representatives passed the Tax Cuts and Jobs Act (H.R. 1). The House bill is identical to the draft bill approved by the House Ways and Means Committee on November 10.

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Income Tax

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Consultant, Accountant in Accountancy Firm, Practicing Accountant

Lawyer in Law Firm, Private Practice, Barrister

Director, Vice President, Senior Company Executive

Industry

Telecomms

Metals & Mining

Accounting & Consultancy

Education

Financial Services & Insurance

Law Firm

Media & Internet

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